Form 4: DocuSign Chief Legal Officer Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
DocuSign's Chief Legal Officer, James P. Shaughnessy, sold a total of 7,500 shares of common stock on January 2, 2025, under a pre-arranged 10b5-1 trading plan.
Summary
- James P. Shaughnessy, the Chief Legal Officer of DocuSign, Inc., executed sales of company stock on January 2, 2025.
- These transactions were conducted under a pre-established Rule 10b5-1 trading plan.
- A total of 6,659 shares were sold at a weighted average price of $90.13, with individual prices ranging from $89.52 to $90.42.
- An additional 841 shares were sold at a weighted average price of $90.53, with individual prices ranging from $90.52 to $90.55.
- Following these sales, Mr. Shaughnessy directly owns 43,781 shares of DocuSign common stock.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of insider trading under a pre-arranged plan, which is neither positive nor negative in itself. It's a neutral event.
Risks
- Sales by company insiders, even under pre-arranged plans, can sometimes be perceived negatively by the market.
Industry Context
Insider trading activity is a common occurrence in publicly traded companies, and these transactions are often pre-planned under Rule 10b5-1 to avoid accusations of trading on non-public information. This filing is a routine disclosure of such activity.
Comparison to Industry Standards
- Sales by executives are common across the tech industry, especially when part of a pre-arranged trading plan.
- Companies like Adobe, Salesforce, and Oracle also see regular insider transactions, which are typically disclosed via SEC filings.
- The volume of shares sold by Mr. Shaughnessy is not unusual for an executive at his level.
Stakeholder Impact
- The stock sales may have a minor impact on shareholder sentiment, but are unlikely to cause significant price fluctuations given the pre-planned nature of the transactions.
Key Dates
| Date | Description |
|---|---|
| 01/02/2025 | Date of the stock sales by James P. Shaughnessy. |
Keywords
DocuSign, insider trading, Form 4, Rule 10b5-1, stock sale, James P. Shaughnessy, Chief Legal Officer
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